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10 Sep 2015
Neutral outlook emerges in EUR/USD – Scotiabank
FXStreet (Edinburgh) - According to Strategist at Scotiabank Eric Theoret, the perspectives for the pair lean towards the neutral camp.
Key Quotes
“The broader market tone remains the primary near-term risk for EUR, with tentative risk appetite providing for modest weakness in contrast to Wednesday’s NA-session rally driven by a renewed intensification of risk aversion”.
“Medium term fundamentals for EUR are weak, with an ECB biased toward greater accommodation”.
“Bearish momentum indicators have softened back to neutral, and EUR has failed to re-test last week’s lows near 1.1100”.
“We note the emergence of near term support around the 100 day MA (1.1132), with resistance observed above the 21 day MA (1.1228) and further gains likely to be restrained by the 200 day MA (1.1254)”.
Key Quotes
“The broader market tone remains the primary near-term risk for EUR, with tentative risk appetite providing for modest weakness in contrast to Wednesday’s NA-session rally driven by a renewed intensification of risk aversion”.
“Medium term fundamentals for EUR are weak, with an ECB biased toward greater accommodation”.
“Bearish momentum indicators have softened back to neutral, and EUR has failed to re-test last week’s lows near 1.1100”.
“We note the emergence of near term support around the 100 day MA (1.1132), with resistance observed above the 21 day MA (1.1228) and further gains likely to be restrained by the 200 day MA (1.1254)”.